Is Google Bitcoin’s Friend Or Foe?

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Is Google Bitcoin’s Friend Or Foe?

I got into a debate with a Google rep about Bitcoin vs. Google Wallet and, I realize I’m biased in my opinion but, I think I handed him his head.

Incredibly he hadn’t even looked into Bitcoin so I introduced him to alot of information. But then he started on how it was the same as Google Wallet. He gave a scenario of how I could send my buddy (sitting across from me) some money instantly too and asked why Bitcoin was different. I easily replied that, among other things, no one would know it was me sending it to him or that he had received it after I sent it. If I used Google they would know BOTH sides of the transaction.

Google is spying on everything we do. I get the strangest ads showing on web pages simply from some off the wall comment I made in an email. But I don’t think it is some tin foil hat conspiracy to look ahead and see where the current spying/advertising alliance won’t be satisfied until they know when and what we bought. I was seriously looking for a new computer monitor and had visited a number of retailer sites. The ads for monitors were on every site I visited. And then I finally “pulled the trigger” and bought one and guess what happened to the ads? They kept coming …. for months. It doesn’t cost anyone anything since I didn’t click them (except my own aggravation) but how long before Google wants to know that I bought so they can send me more effective ads? I don’t think too long.

But here we are 6 years after what many say is the biggest tech event since the Internet (which is itself bigger than Google of course) and I can’t think of anything Google has contributed. So why hasn’t the Bitcoin community gotten more vocal about Google’s absence? The Google Rep was not in some fluncky position. Rather he was a ways up the corporate ladder. I can’t say one event is proof of Google’s corporate policy but, again, nothing constructive from them comes to mind. Wall Street banks seem more involved than Google and that is a complete shame!

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What Is An “AdCoin”?

We use the term “AdCoin” to describe the value held in our customers’ and members’ accounts which originated from a Bitcoin deposit and that also preserves and backs that value 100% with Bitcoin because they (sic. AdCoin) are redeemable for Bitcoin at a fixed one-for-one exchange rate.

Why don’t we just call them Bitcoin then? There are a few reasons, among them is that it helps train users about and reinforce the adage about Bitcoin that “if you don’t control the keys you don’t own the Bitcoin”. For the sake of clarity and accountability we change the name of this new asset that the user has control over to “AdCoin” instead of using the name of the former asset they no longer have control over (i.e. Bitcoin).

AdCoin is NOT an altcoin despite the fact we use the word “coin” in its name. We use the word “coin” mostly to keep the user reminded that they are all redeemable 100% for BitCoin. There are concepts used around Bitcoin developer community such as “sidechains” and “tokens” which perhaps come closer to describing what an AdCoin is but the differences between them all are subtle and probably of little interest to our casual user.

To help differentiate our concept we regularly substitute either of the names “ad credit” or “advertising credit” for AdCoin. The three (AdCoin, ad credit, advertising credit) are synonymous and are ALL backed 100% with Bitcoin on a one-for-one exchange rate.

So … at the end of it all … AdCoin are really just the name sometimes used for account ledger entry values.